Technical Analysis

The pair stalled at swing area The USDCHF peaked yesterday within a swing area going back to swing lows from June 2020 and July 2020 (before breaking lower in July), and swing highs and lows in March 2021.  That  swing area came between 0.93606 and 0.93753. The high price yesterday reached 0.93676 and rotated back to

Price is higher on the week The AUDUSD closed last Friday at 0.7250. The price is currently trading at 0.72618 for a gain currently up about 12 pips on the week.  The move to this level, has seen the AUDUSD  move higher on Tuesday to the high for the week at a 0.73104.  The pair joined  the dollar bull

Buyers into the London close keep the hopes for a rebound in play The GBPUSD moved above the 100 hour MA earlier in the US session and after some up and down price action that saw the 100 hour MA retested, the buyers held the support and has pushed to a new session high as

100 hour moving average at 0.692964 the NZDUSD The NZDUSD has extended its move to the upside and in the process has moved above its 100 hour moving average at 0.69296. Staying above that level now will keep the buyers more in control at least in the short term.  Having said that, the 38.2% retracement of

Dow up over 700 points at the session highs The major US indices close sharply higher on the first day of the new trading month/new trading quarter with the NASDAQ index snapping a five day losing streak.  Shares of Merck surged 8.6% on the back of a Covid drug that cuts hospitalizations by 50%. Transportation stocks

AUD/USD down 0.4% to just under 0.7200 to start the session Invest in yourself. See our forex education hub. Even though the aussie was a solid performer in trading yesterday, the technicals reflected the lack of change in sentiment as gains against the dollar were capped by the key hourly moving averages – seen at

Price settles at $75.03 after trading as high as $76.07 The price of WTI crude oil futures are settling at $75.03. That is up $0.20 or 0.27%. The high price reached $76.07 but came off after report from OPEC+ that they may look to increase production at their upcoming meeting.  That sent the price back down

The aussie is the lead gainer so far in European trading A bit of a push and pull is still being seen with regards to the dollar to start the session but that is fitting with the typical untidy narrative when it comes to month-end and quarter-end trading in general. The greenback is mildly softer

The upper trend line cuts across at 112.11 The USDJPY is extended to a new high of 112.007. The current price is at 111.986 as I type. The 112.00 can be a natural resistance target.  Another target topside general trendline cuts across at 112.12.   The price action today saw the price move below the lower channel trendline but also found support buyers

GBP/USD falls to a low of 1.3505, its lowest since 13 January Invest in yourself. See our forex education hub. The break to the downside below the July low in trading yesterday is a big win for sellers from a technical perspective and there are little signs of an immediate bounce back for the time

S&P index down near 2% the major stock indices are moving to the downside going into the close. The Dow industrial average is down 561 points or -1.61% at 34310.54. The S&P index is down 88 points or -1.99% 4354.66. The NASDAQ is index is down -408 points or -2.73% 14559.  For the S&P index

EUR/USD nears the August lows at 1.1664-66 Invest in yourself. See our forex education hub. The retreat since the start of the month is continuing for EUR/USD, with the dollar underpinned by the surge higher in Treasury yields since the technical break last week. The latest shove lower brings the pair down to 1.1673 and

Highlights for tomorrow’s US trading session Today has been a lackluster day in the markets. The US stocks are still mixed with the NASDAQ down in the Dow industrial average up.  US yields are off their highest yield levels that saw the 10 year reach 1.516%. It is currently trading at 1.480% up about 1.9 basis point

USD/JPY a little lower on the day, keeping at 110.63 Invest in yourself. See our forex education hub. The pair is contesting daily resistance around 110.60-70 currently with the August high at 110.80 also adding to that in limiting any further upside potential since the latter stages of last week i.e. when Treasury yields broke

100 hour moving average at 0.72596 is now resistance. The AUDUSD has moved lower on the back of anxiety about China and risk off sentiment, combined with some technical breaks and bearish tilts. The 200 hour moving average which was broken yesterday, was rebroken to the downside today and stayed below. The 100 hour moving average has now been broken at

For the week, the major indices close with gains The major European indices are closing the day with declines, but for the week, they held on to gains. The provisional closes are showing: German DAX, -0.8% France’s CAC, -1.0% UK’s FTSE 100, -0.35% Spain’s ibex -0.1% Italy’s FTSE MIB -0.4% For the trading week, the major indices closed higher:

Technical selling as to the move to the downside The NZDUSD moved sharply higher yesterday and in the process trended above the 100 hour moving average (blue line), the 200 hour moving average (green line) and 100 day moving average, and above a swing area near 0.7075. The pair did rotate back down toward the 200 hour moving average and

5s on the verge of a pop US 5-year notes have essentially been range-bounce since March but we could be at the end of the period of consolidation. Rates today are in danger of closing at the highest levels of the year. The bond king says we’re already at the intraday highs of the year